, The European Commission launched two antitrust investigations on Monday against certain members of the Star and oneworld airline alliances on concerns their agreements on transatlantic routes might breach EU rules.

The European Union opened antitrust investigations Monday into seven airlines that fly lucrative trans-Atlantic routes as part of the Star and oneworld airline alliances, saying it suspected their cooperation was illegal.

Australia's Qantas Airways and British Airways called off talks for a $6.4 billion merger, leaving the British carrier to consider other combinations with European peers as the sector grapples with falling demand and volatile fuel prices.

Spanish airline Iberia said Wednesday its 3rd-quarter profits plummeted 80 percent to 30.4 million euros ($38.8 million) compared to the same period of 2007, as international economic slowdown sapped demand.